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when if the man can't feel palace c lynmasculineor stock f? we need to give permission to men to feel good about themselves in a diffent way. >> perhaps we don't need as many guns, available. lou: to be clear, that is your politics. >> it islen tal gun perspective. your comments now. doug wrote to say both parties, a disgraceful farce shame on us and the media to allow them to continue the scams unchallenged. gary says "more stone walling on ben gi sai? we'll never know the truth, will we?" i think we will. it may take time, but we will. that
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zbloog. >> reporter:. >> we have updating negotiations and we have been checking in with rich. i want to check futures very quickly. futures are trading up still a good bet at 9:30. dow will open in negative territory but we won't be for sure until we see the open. we want to check with rich. they are always talking even when they say they are not. there is something going on behind the scenes? >> that is true. the phone calls are continuing throughout the night. there is a feeling on capitol hill we may not get any type of announcement this evening, most of the folks on capitol hill have gone home. harry reid has gone home for the evening as the focus of these talks is now between the vice president of the united states, joe biden and mitch mcconnell. a sign of optimism the last time
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they tried to work out a deal, it was successful. they extended the current tax rates for a couple of years and extended long term unemployment insurance and 2 percentage cut in social security. last time they got together it was successful between the two and now they are leading points on negotiation. >> if we don't get a deal before january 1, the taxes go up pretty high. any idea how much people will be paying? >> i think there is a misconception when you talk about the bush tax cuts which are the current rates we're operating under, it only hits folks at the top of the income scale, bush tax cutting all the way to the bottom, all the way up to the top. pretty much anybody who has an income is going to be paying more in taxes if there is not any type of deal to extend current rates.
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>> shifting gears, it has to do little with the fiscal cliff. news about the secretary of state, she in the hospital tonight. can you update us on her condition. >> this is statement from secretary of state spokesperson, hillary clinton is in the hospital after doctors discovered a blood clot stemming from a concussion she sustained several weeks ago. her doctors will continue to assess the situation in the next 48 hours and see if any further action needs to be taken. >> reporter: okay, rich. fox business network here all night. we'll be monitoring potential of a deal and also watching some of the asian markets, hong kong just now beginning to trade. we'll update you at the 10:00 p.m. hour. we want to remind you at 5:00 a.m., sheryl will be here to start the trading day for that. with the opening bell at 9:30
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here at new york. if there is a deal we'll have it for you if it happens during our break at the top of the hour but at 5:00 a.m., as well. we'll return to our programming now. hand. it is a time consuming labor which they have to do for hours every week. they want the washing mhine. they don't want to spend such a large part of their life doing this hard work wh so relatively low productivity. but when electric truer to environmentally concerned studentshey say everyone in the can world cannot ve cars and washing machine. how can we tell this woman e will not have a washing machine? >> you students don't want everyo to ha a washing machine? >> they have not thoughtit through. they get concerned about one thing and forget realy. i say howmany of you have not
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washed your jeans or sheets. one boy said he hand washed but there s an e circle around where he was sitting. it is sort of a "we like it because it saves so much time." that is part of the industrial revolution that everyone wants. when they say lonely the power station, and long live the chemical processing industry... >> he corrected m and this video was not viewed by several hundred thousand but by how many? >> totally, tenillion. >> and you do a presentation, that most of history people were miserably poor and died before age 40 and only recently things have changes. did you a chart this is life span. this is walth. for most of history, peop have
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be down here, only recently, the united stas and some other countrs are here, but many people are still, we have it here, stuck. >>gut: this is 180, -- 1800 everyone was sick and poor and they started to move. this is a representation of what you should look at on the web page and some -- this is britain. this is when britain was richer but the united states decid to catch up. and now this is australia and new zealand. nonow at turn of the century, united states is pushing forward with technology and the market economy and they have a lot of good public health things being done and the rest of the world that is dominateing, india and china, but in the 60's they missed.
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the market economies are good and they grow their economies an they are catching up. today when we land, 2010, these are the countries that borrow money to the richest when they have their problems. >> i mind this raises two questions,r two amazing results from this. there have been thousands of years of human history and everyone w stuck on the lower left for thousandsof years, it has en 200 years that you have all of this activity and how come some countries are still stuck? >> it is easy to understand. the best message today is that most of the african countries are now in fas economic growth. they have corrected the wrong market ideas they had 20 years ago, and they have a much better
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ucation than, -- and tanzania is similar to thailand in 1972 and soon we will see african countries doing good. >> this is wonderful. our problems are solved w know what works and we will be rich. >>guest: no, we have this problemith two billion human beings in poverty. i did most of my research in the poor part of the world. all poor people are clever otherwise they would be died. if you are poor an stupid, you die. >> they don't have rule of law? >>guest: they don't have rule ofaw or access to credit and they are locked in a vcious circle poverty. it takes a small investmt to get them out of that. to me it shows the aptitude of people. when a young couple decide to grab if the kingdom and to have
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two children, they invest in the children and they take off. we have two-child families from here and onward. the world is governed from that. it is not the big corporations or banks tat run the economy, it is t young couple who decide to work. when they are educated with wealth they . >> are helpful. this fantastic invtment in vaccinations that helps so do you not have a d who is physically handicapped for life, thatrags the family down. the way that government sources are used is crucial. there are some things like advancement and research and primary school we need the government money but it has to be controlled. >> thank you, sir. next, you want to live to be 150? my next guest says the frst rson to do so my have already been born.
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itmight be you. do you want to live to be 150? i don't. how advances in medicine may change everything. the boys useasasasasas capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. buwith the capital one venture card you get double miles you can actually use.
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>> most of human history people died by age 30. 30 year s the average life an for thousands of years. only with the industrial revolution did that change and it changed quickly by 1850 the average life span was almost 40. 50 years later, 47. by 1950, it was up to 68. now, the average in america is 78. 76 for men and 81 for women. the numbers will only go up. and up. the. >> their of a book called "100 pl, the coming age of longevity wil change
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everything." everything? >>guest: everything. >> howuch longevity? >>guest: take the premise it will be possible in for average life expectancy too up to 150. >> there is someone alive today who will live to be 150? >>guest: absolutely. >> is thatcreepy? you will be shriveled? >>guest: no, we will be healthier for longer, and energetic and enjoying likes. >> because they invent body part replacements. >>guest: that is a low-hanging fruits. scientists have created brand new humoring gans using a person's adult stem cells so bladders, trachea, human blood vessels, they have been created already. >> so, assume we accept this, we are healthy, what happens to
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your life? you work longer? you changeobs? dot you get sick of it? >>guest: the exiting is, there will be much more opportunity. right now, with the average life span of 80 years if you want to be a doctor, a lawyer, and an entrepreneur it and tough to have all of those three years cause two of the years require a lot education. when we have longer healthier lifespans we can go back to education and try new years we would no have triedotherwise. >> they will change families? >>guest: we will be around longer, there is more potential to have more marriages and of course fertility extends, there could be different types of family structures. it will be more diverse. >> you could have a sibling who is 50 years younger in. >> yes. >> some ofhis creeps me out a bit. "new york times" op-ed they write silly things and they said, people should not live longer, you will lose purpose in
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life. i met a guy who said i am 69, if i make it to 75, i'll done, i've had it. don't you lose the edge? is there aatural cycle? >>guest: ihink people tend to say that because they assume as you get older you also get ill but when that is the case, you do lose your lust for life but if you are healthy and energetic, there is so much more to do and you think about it, you never have enough time to do everything you want, do you? we need more time. >> there was a profile of the person, the billionaire who wrote the forward to your book, and it was silly, and a silly things they said was that this extending life is not a good idea because the technology will be available to rich people first and it will add to inequality. >>guest: that is a knee-jerk reaction but we hear that when you talk about any type of new
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technology. think when cell phones first came out. only the rich people had cell phones. yes, they were the size of a brick and you carried around in a briefcase and it is a good thing they nded that technology because it led to cheaper devices that we now use. >> eventually, your point, is it will get to everyone. the guy who wrote the forward says the biggest inequality define those who are alive and dead but the rich people experiment first, they will get hurt first by the mistakes. >>guest: that is right. they take the most risk andput the most capital forward. in some ways it is good that happens. the biggestuestion, how long does it take between the rich getting it and the poor getting it and that is shrinking for new technology. that divide. >> tnk you, sonia, more on our wonderful world. despite what the media whines about, it is a wonderful world. more on that when we come bk. is the best.
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>> google. intel. e-bay. yahoo, think of the wealth they created. 100,000 millionaires. and south africa computer program has it easier than when
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the indians want to come in but they have to wait six years. so, what if america did not let google or yahoo founders in? we would have lost a lot. so, since american politicians are not taking steps to cnge the rules to allow more entrepreneurs to come here to work dario and max, my guests, have set out to build a ship and keep it off the coast of california outside the reach of immigration controls and foreign entrepreneurs could work here, is that the idea? >> that is correct. we are creating what we call a visa free technology incubator on a ship, 12 miles off the coast of the bay area. >> definitely miles escapes the rules of the united states. >>guest: it is outside the territorial waters. >> the idea is and you are from the silicon valley area, that
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you can come to america with a work visa and work threemonths or six months but you cannot stay so you have the four engineers on the boat and the silicon vley tech geniuses back and for the and work with them? >>guest: when you come for a few monthsn tourist or work visas y cannot work, so there is no avenue where the entrepreneurs can come hour and create the comnies which create the jobs and the economic growth and the prosperity and put silicon valley on the map. >> time is needed for the coanies to grow and enable them to have that period of time to meet relevant investors and ey can grow. it is an incute baiter to get the small companies to be able to blow. >> you call it the blue seed project? why not geen egg?
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>> blue cause it is on ter and seeis a sall company before it grows into the next google or facebook. >> it is the google plex of the sea. >>guest: we are familiar with google, the real google plex where intelligent andcreative people can work in a fantastic se of circumstances. >> that is what google called office space station. >>guest: a nice environment, which is conducive to creation of new products and new companies, and we like to copy that model on our vessel. >> you came up with this idea after graduate sool? guest: wn i was in graduate school i got my mba from the university of miami and many people from allorts of the world, india, europe, china, who wanted to stay here after they graduated and work on their companie create new start-ups,
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but the were unable to do so because after you graduate you get a job with an existing company or you leave and for many them tt was not a good option and they left and took their ideas and companies with em. >> so they get their fancy education here and go back to indian or somewhere else. >>guest: we would like to stem the tide and keep them closer, and bring themack to the united states so they can create new jobs. and new companies. >> if they worked for a company they could have stayed? >>guest: if you get snsored by a large corporation you can get the prop visas to work in the country but you cannot sel sponsor and you cannot be here and create your own start-ups without going through some pretty significant legal work. >> to build this big ship where people live cost a lot of money and people are actually giving you money for this? >>guest: the face book funder and creator of pay pay pal is
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helping us and bringing in a number of investors. he will give a significant fraction ofhat we still need to raise our seed funding. >> we called one of the lar immigration reform groups, they callhemselves, they limited on immigration, and they said they coulhave paid a higherage and found americans to do this engineering work. this is nautical grandstaing. >>guest: i would like to address that. basically, it is a way for companies to come so instead of leaving the united states they will be coming into the united states and it is the opposite of what that gentleman mentioned. >> and youre both immigrants yourself. >>guest: yes. my parents are from cuba. they came over when castro took wer and now they entreprenes. >> you arefr yugoslavia? >>guest: yes from the ex
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yugoslavia. >> there is something about people who want to leave their country and go do a new country that makes them more likely to not only kill us but to build something. >>guest: they have the entrreneurial spirit. th is what boosted the can do attitude which is the american trade that has a lot to do with a fact that this is nation built by immigrants, so, try to provide a soluon to a problem, an entrepreneurial solution ourselves. >> you are doing that, so, thank you, car i don't and max, coming up, ideas what? what? that sounds inappropriate the my quest says it is what makes our world so wonderful. he is right. he will explain when we come he will explain when we come back. [ male announcer ] how do you trade? with scottrader streaming quotes,
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>> now, let's talk about ideas having sex. you have one idea. she goes to a bar and meets another idea. th get together and days or months later, i am not sure how it relates, but a baby results and the baby has the best traits of both parents. when ts happens a lot, everyone gets smart and the world gets better. i know this seems like a weird
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concept. it seemed weird to me when i first heard it but the more i thought about it the more right it seemed. now to a british journalist, the reason, you say,ife gets better is ideas have sex, in effect. >>guest: ideas spread through exchange and trade and when they meet they can mate and you can produce combinations of diffent ideas. ploy favorite example isamera pill which takes a picture of your inside coming about after a conversation of a guided missile designer and a gastro interologist. the meeting of ideas causes innovation in culture. >> the genes do not have brains, they can meet and you get
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something bad. >>guest: that is true. it is true with us. you can comne two ideas and come up with a worse idea but no one picks it up, no one tkes it off. if you come up with a better idea it spreads at the expense of the baddie and the recombining and what weo. the more we trade, the more we exchange, the more it happens. >> and the better life gets in general. >>guest: absolutely. our living standards have shot up in my lifetime. the average income of the average person is row times what it was when i was born and li span is 30 percent longer and child mortality is two-thirds lower that is because we keep improving each other's living standards. >> s you like to show people this picture. >>guest:he object on the left is a hand a and from half a million years ago and sits on my desk at home, the hand ax and next to it is the computer mouse, and they are the same size and shape and the ax was
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madeed without a change in design for half a million years. it is made from a single substance and the mouse is made from a bunch of diffen substanceses, plastic and metal and so on and it combines different ideas, that occurr to different people in different times and different places and they all come together in this technology and thats how we are betteroff with the combinations of ideas. >> the mouse improves is often that t one i have a few years o is already out of date >>guest: the one i to a picture of with the ha ax is nolonger used by me. >> this work thursday a free exchange of idea but it does now work if there iscentral planning. >>guest: exact the one thing about the way ideas come together and recombine is it actually creates things that are greater than the sum of the parts and things we do not
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understand. no one knows how to make a computer mouse, i am qting. >> someone knows, i have a computer miscellaneous. >>guest: no one person. no one person. the knowledge shared among lots of different people. this is the inside of the economist when someone said no one knows how to make a pencil. it is a collective brain that achieves this. when you try and substitute an individual's intelligence by putting a man in char of computer mouse manufacturing he nnot do as go a job as the collectionith eac us knowing a little bit of the picture. >> the computer mouse could have parts from chin and india and thunited states and hundreds of different people and the person who ships it and puts it in the box. >>guest: it is --. >> a million people could contribute. >>guest: it probably is a million. they are all working for when they made it because it is my mouse and you have to include
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the guy in brazil who is growing coffee drunk by the guy on the oil rig who was drilling for oil whose oil would be ud in the plastic factory, et cetera, they were all woring for me and that is the beauty of the system we have created, we work for each otheall the time. we are each othes servants. >> but no one is bossing people around it is voluntary. >>gut: that is right. no one forces you to go out and buy aomputer mouse or forces the guy who made the mouse to work for me or me to work for him because i am working for him because i have the money from my work to buy the mouse. >> you argue that even if dumb people get together and have their ideas have sex tt comes up with better results than the brilliant ntral planner. >>guest: thing this is why the obsession with i.q. and whether this groups have higher i.q. is mistaken, if you look at human
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history, lots of people in a room who are talking to each other, however stupid they are, can achieve a lot more than a lot of clever people in the om who never talk to each oth. it is not individual intelligence that accounts in how well a society works but how well people communicate and exchange ideas. >> and the result, youentioned high are living standards, longer life span, think of one of the richest people in the world at the time, louie the 14th. his life at the time was wonderful. >>guest: he had 498 people to prepare his dinnereach night according to some person's book i read. you have 500 people preparing your dinner tonight. they are in cafes and restaurants and shops all over town. it is probably a better meal that he had bause he probably didn't have man goes very offi den and he probably had salmonella more oft than you do. and i have air conditioning and flush toilets and things he didn't have because of the
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invisible nd. >>guest: if you took your own salary back 40 years and tried to, time traveled back to the 1960's, you would be rich as a king compad to everyone else but, however, you still could not buy areally good lattefrom a coffee vendor in the street or get a mobile phone signal so there are a ton of things at live has improved even over and above motary impvements. >> so, because of this, you call yourself the rationale optimist and you wrote a book of that title. >>guest: i was fed up with pessimist. when i was a student in the 1970's the grown ups said the future of the world was bleak, oil was running out, the population explosion was unstoppable. >> there was a book "the population bomb, race to oblivion otherwise" the world
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would run out of oil by 1992 by natural gas, in 1994, and aluminum would be gone by 2003 and so on. >>guest: all these predictions made in the 1970' and i believed them and a lot of people i knewid, and i feel cross that no one said anything optimistic to me how the resources may not run out, they could become more abundant, they could get chief --heaper rather than more expensive, and we could do less damage and our cities could have cleaner air and rivers, and all of these things have happened andwe have healier and happier andmore cheffer peaceful and more equal, if you look at the picture globally. >> because ideas have sex. now, bill gates criticized this
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optimism saying you fail to see that worry about the worst case can actually he drive a solution. >>guest: i donon't think that is really true. if you look where the solutions come from, they come from optimistic people living in rich people like steve jobs or leonardo in italy. they are not driven by desperation or worry. in fact, i think it is the pessimts who are the complacent ones these days because they are saying, you know this is as good as it can get. we cannot make it any better. better be careful about modified foods in indicate they are worse than existing technology. i think this world is great. but it is a veil of tears compared to what we could achieve. >> and cld achieve. so, thank you, matt ridley.
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>> i talk about how innovation makes life better but where is the innovation coming from? politicians say from government. the big success story is america putting a man on the moon but think about it, yes, nasa put a man on the moon but they spent billions and have not been back in 40 years. by contrast, an organization called x prize is offering a prize and now a space ship launched three people into space. they won $10 million. there is another xrize offered for a private mn lang.
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here is a sample of the devic of a lander that is being tested negotiation government money, none of your taxes involved, 80ive innovation driven by entrepreneurs taking the risk. competition if a car that gets 0 miles per hour has drawn nearly 100 entrepreneurs. the design competition was first, the cars had to pass the looks test. these cars did. next is the race. 54 teams will compete to win. the man who raised the money if the prize and organizeed the organization is here. >> we have entrepreneurs and scientists and engineers to do what only government could do. >> peter joins us from los angeles. you have new prizes now? >> we do. we are having a lot of fun guring where there could be
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breakthroughs that you not going on or being driven by large companies or government that i challenging entrepreneurs to make the impossible, possible. >> where do you get the money? who put up the x prize? >> the money, really, comes from a range of different groups, including individuals, and philanthropists and competitions or large corporations, progresse insurance or companies such as that, wanting to make a difference in the world. >> often, we assume this innovation has toe pushed by a governme. >>guest: today, more than ever, we have individuals and small teams that technology literally the ability to do extraordinary things with artificial intelligence and robots and computing power at our fingertips, that only the governments are large corporations hd. >> there is a difference with
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the incentive. the government is top down central planning compared to a contest that stimulates the entrepreneurs to try new stuff. >>guest: anyone around the world who solved this first wins. literally, when you look if a needle in the haystack, the needle comes to you so we have tens or hundreds of teams from around the planet, some of which you may never have found because they come into existence because of theompetition and say, maybe i can do that. they come wi very nontraditional ideas and you think about it, the true break through the day before something is a breakthrough it is a crazy idea and the incentive competitions allow if crazy competitions to demonstrate what they can do and become the breakthroughs of tomorrow. >> if you have $10 million offered for a car that gets 100 per gallon, if someone invents that, they mak more than that in the market.
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>>guest: so, as humans, we are wired to compete. we do our best when we compete and in sports and different parts of our lives an putting up a challenge and saying, this could be impossible but here is a very clear objective goal and the first person to pull this off wins. it gets you, it enters our psyche and it drives people to say, how could i do that, how would i do that, and they form teams and they go after it, and we are hearing all about the news recently about the launch vehicle, and the prize was won by burt who was inspired by a competition. in were 26 teams competing and it launched a multibillion
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dollar industry so that is the kind of leverage. and you only pay the winner that the incentive prices can create. >> last year a billionaire richard branson bought it and is testing a space ship that he will use to take tourists in to space. >>guest: i have my ticket. >> this is not a new idea. >> charles lindbergh risked his life to fly to paris because of th $25,000 flight and today that would be worth $300,000. >>guest: that was my incentive. i read about him crossing the atlantic in 1927 to win $25,000 prize and what a powerful way to incentivize breakthroughs and took us back through history the prize prizes that will
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incentivize. one cool prize we had, a philanthropist in s valley saw the b.p. oil spill that was going on and it was going on and on and on and on and we literally thought, what can we do in and james cameron said, why not look at cleaning up oil spills so we held a competition and said, for the last 21years from valdez to b.p. oil the best anyone had done was 1,100 gallons a minute to clean up. >> you offered a miion to improve on that? >>guest: she offered $1.4 million to improve on that and you fure, what could $1.4 million do? this has bee multibillion dollar industry, oil spills have been going on for a long-term and the technology has been stagnant. we had 350 teams preregistered and we narrowed it to top ten
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and last year seven out of the ten teams that competed doubled the industry standard and the winning team quadrupled the industry standard so they nor you going into production and hopefully we will reinvent how to clean up oil spills and it shocks how a million or $10 million can reinvent an industry. >> this makes for a wonderful world with lots of abundance which is the title of your new book coming out. thank you, peter. >> next, my take on a wonderful world.
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>> the media does lots of
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complaining. unemployment is high. so is the debt. iran is working on bombs. global warming could kill us. libertarians are skeptical about that but the debt is rising. there is too much regulation. these kill jobs. fools in power add more. the bureaucracy of obamacare is coming. the drug war range is on and the nanny state raises food markets. give us a break. the news bsiness we focus on bad news. it is our job. if a plane crashes and kills us that is news. if not, it is nation but it is not news. so, it is goodear the end of the year to step back once and notice this is a wnderful world. even though we constantly add the stacks every dick louse regulation, entrepreneurs over come it. their ideas have sex with other
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people's ideas and give birth to better things. i don't know what the next breakthrough will be, the next cw50 lend to a washing machine or an ipad. but i am sure there will be some. maybe it will come from a competition like the x prize. charlelindbergh first crossed the atlantic to win a prize. six people died trying to win . lindberghsucceeded because he came up with new ias saying, why need a co-pilot, i will fly solo to save weight. he trimmed the edges off the maps to save weight. people called him crazy but he succeeded. he did what governmentaid couldn't be done and brought in the age of commercial aviati. life in america is tough for lots of people today, life for most is a better life than ever existed in the history of the world. we live longer than ever.
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this is a chart of the avere life span, which is why entitlements will bankrupt us. unemployment is still before 8 percent and i blame big government and the regulation but step back and remember, this year, america did add 1.4 million new jobs. if we have 10 percent of unmonth i that means 90 percent of those whoant work have work and income. again, in the history of the world, that is unusual. the water and air are clear than they used to be and they keep geing cleaner because of technology invented by capitalists. capitalism could be volly filed by the media but it makes our lives better and on this show we celebrate it. thanks if joining us this year. that is our show for tonight.
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progressive claims. this is flo. i need you. i feel so alone. but you're not alone. i knew you'd come. like i could stay away. you know i can't do this without you. you'll never have to. you're always there for me. shh! i'll get you a rental car. i could also use an umbrella. fall in love with progressive's claims service.
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FOX Business December 30, 2012 9:00pm-10:00pm EST

News/Business. (2012)

TOPIC FREQUENCY Us 10, America 6, United States 5, Google 5, India 3, China 2, Yugoslavia 2, Atlantic 2, James Cameron 1, Healier 1, Rodger 1, Mister Feher 1, The United Stas 1, United States Decid 1, Bet 1, Indians 1, Steve 1, Matt Ridley 1, Mitch Mcconnell 1, Joe Biden 1
Network FOX Business
Duration 01:00:00
Scanned in San Francisco, CA, USA
Source Comcast Cable
Tuner Virtual Ch. 130 (Fox Business)
Video Codec mpeg2video
Audio Cocec ac3
Pixel width 704
Pixel height 480
Sponsor Internet Archive
Audio/Visual sound, color

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on 12/31/2012